TORONTO AND SAN DIEGO, Feb. 15, 2012 /CNW/ - Riverbank Power, a developer of pumped storage and run-of-river
hydroelectric assets, announced today that it has entered into a joint
venture agreement with enXco, an EDF Energies Nouvelles Company, to
develop pumped storage facilities in North America.
"This joint venture represents a much-needed catalyst to continue
renewable power development in North America and the involvement of an
experienced company like enXco underscores the critical nature of grid
scale storage," commented John Douglas, President and CEO of Riverbank.
"enXco's view and experience of pumped storage certainly corroborates
the necessity for a resurgence of this mature technology in North
America if renewables are to achieve their meaningful objectives."
"enXco has spent a significant amount of time rigorously evaluating the
North American market for pumped storage solutions," commented Tristan
Grimbert, President and CEO of enXco. "Establishing a partnership with
Riverbank represents an opportunity to further develop the potential
for energy storage which is necessary to integrate renewable energy and
provide much needed ancillary services. We are uniquely positioned to
leverage our 25 years of IPP experience in the US along with EDF's
unmatched hydro technical expertise to address the need for storage in
The joint venture's initial efforts will focus on large scale
development in the Northwest region of the United States.
About Riverbank Power:
Founded in 2007 and based in Toronto, Canada, Riverbank Power is a
developer, constructor and operator of run-of-river and pumped storage
hydroelectric facilities in North and South America. With offices
located in Portland, Oregon, Logan Utah, Rigby, Idaho, Toronto, Canada
and Lima, Peru, Riverbank is well positioned to become a market leader
in hydropower in North and South America. Riverbank's combined
development capacity of over 500 MW of run-of-river and over 10,000 MW
of pumped storage hydroelectric facilities represents one of the
largest hydroelectric development pipelines in the World.
Additional information on Riverbank Power is available on the Company's
website at www.riverbankpower.com.
About enXco, an EDF Energies Nouvelles Company:
enXco (www.enxco.com) - an EDF Energies Nouvelles Company (www.edf-energies-nouvelles.com) - develops, constructs, owns, operates and manages renewable energy
projects throughout the U.S. For more than two decades, we have been a
leader in wind energy, focusing on large-scale wind projects. Today,
enXco's portfolio includes solar and biomass technologies in an effort
to help drive our nation's transition to a sustainable energy economy.
enXco is a significant owner and developer of wind-energy installations
in the U.S. and is the leading third-party operations and maintenance
provider for wind farms in North America.
SOURCE Riverbank Power Inc.
For further information:
John Douglas, Riverbank Power Corp. (416) 453-8290
Sandi Briner, enXco (858) 521-3525